IDACORP, Inc. (NYSE:IDA) reported third-quarter 2019 earnings of $1.78 per share, which declined 11.88% from the year-ago quarter’s figure of $2.02.
The year-over-year decline in earnings was caused by mild and rainy weather, which led to lower irrigation sales and reduced transmission revenues on a year-over-year basis.
Highlights of the Release
Operating income increased $5.5 million from the year-ago quarter’s level. The upside can be attributed to 2.6% rise in Idaho Power customers.
Net income in the quarter under review was $89.9 million, reflecting a 12% decline from $102.2 million recorded in the year-ago period.
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